The shortage
In its report on the prices in the Electricity Sector covering the new price period SEWRC has confirmed the existence of a significant accumulated deficit, caused by unrecovered costs of companies, fulfilling their obligations to society (to purchase energy from green producers). The deficit accumulated so far, according to SEWRC’s calculations, amounts at BGN 410.7 million.
It should be recalled that this was the reason for the commercial litigation that had occurred between the electricity supply companies and NEK, followed by SEWRC’s decision to start a procedure for the revocation of the licenses of the end suppliers.
According to SEWRC’s report this deficit is allocated among the entities, obliged to purchase green electricity, as follows:
- NEK EAD – BGN 54.7 million
- CEZ Electro – BGN 61 million
- EVN Bulgaria Elektrosnabdiavane – BGN 248.6 million
- Energo-Pro – BGN 46.3 million
The compensation
Despite its confirmation of the existence of a shortage of BGN 410.7 million, SEWRC does not envisage its compensation during the 2014 – 2015 price period. According to the regulator, in order to overcome the liquidity crisis in NEK, the compensation will be phased and in the 2014 – 2015 price period BGN 79.5 will be covered, constituting 19.3% of the afore mentioned amount.
According to SEWRC’s report, BGN 47.2 million will be allocated to compensate the costs of NEK, and the remaining BGN 32.3 million go to the electricity supply companies.
A simple calculation shows that in this way 86.3% of the “green” deficit of NEK will be covered and 9% of the “green” deficit of the electricity supply companies.
As a final result, the not covered cost of NEK will remain BGN 7.5 million and those of the electricity supply companies – BGN 323.6 million.
